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CFB News

CFB News

CFB Invests in Lanair Holdings, LLC (Janesville, WI)select an article for more information

St. Louis, MO, April 26, 2011 – Capital For Business, Inc. (CFB) announced today that, in partnership with Aldine Capital Partners, completed an investment in Janesville, Wisconsin-based Lanair Holdings, LLC to support the company's acquisition of Lancaster, PA-based Clean Burn, Inc.

Founded in 1976, Lanair manufactures waste motor oil heaters and boilers. A waste oil heater is a furnace engineered to exclusively burn used motor oil as a source of heat. These furnaces are commonly used by auto dealers, auto repair shops, fleet repair centers, equipment contractors and quick lube shops to heat their facilities during the winter months. Clean Burn also produces waste oil heater products including waste oil furnaces, waste oil boilers, and used oil recycling centers.

CFB Acquires Winco Mfg., LLC (Ocala, FL)

St. Louis, MO, April 26, 2011 – Capital For Business, Inc. (CFB) announced today that it recently completed the acquisition of Ocala, Florida-based Winco Mfg., LLC (Winco)

Winco manufactures medical furnishings that include recliners, privacy screens, treatment tables, phlebotomy chairs and stools used primarily in Clinical, Acute Care and Long Term Care markets. Its primary products are clinical recliners used by patients as they receive treatments for dialysis and oncology infusion.

In addition to CFB, Diamond State Ventures out of Little Rock, Arkansas co-led the investment group. The senior financing of the deal was provided by Enterprise Bank & Trust.

The acquisition included an investment from key members of the Company's management. Jim Ankoviak, President and CEO of Winco, commented "The Winco management team couldn't be more excited about this new chapter in our history. We are well prepared to leverage the expertise and capital base of our new partners, and we are excited that our investment partners are as passionate about the business as we are."

CFB Acquires Legacy Technologies, Inc. (Mission, KS)

St. Louis, MO, May 5, 2010 – Capital For Business, Inc. (CFB) announced today that it recently completed the acquisition of Legacy Technologies, Inc. and its sister company Accutek Acquisition, Inc. (LTI or the Company).

LTI is a Mission, Kansas based niche manufacturer and supplier of glass-to-metal hermetically sealed enclosures and related products to original equipment manufacturers and their sub-component suppliers operating in the electronic hardware industry. The Company's enclosures are typically integrated into electronic components, modules, and ultimately end-products that are designed to: 1) manage and control frequency and timing, or 2) measure physical quantities (act as sensors) such as temperature, pressure, and motion. LTI's enclosures are predominantly used in products that require high quality fail proof frequency and timing applications. Generally, end-products in which the Company's Packages are incorporated are sold into one of five broad market categories: commercial, industrial, defense, aerospace and medical.

In addition to CFB, the investor group included Kansas Venture Capital, Inc. and MidStates Capital, both of Overland Park, Kansas. The senior financing of the deal was provided by Great Western Bank.

The acquisition included an investment from key members of the Company's management. Mickey Finn, President of LTI, commented "The Legacy management team couldn't be more excited about this new chapter in our history. We are well prepared to leverage the expertise and capital base of our new partners, and we are excited that our investment partners are as passionate about the business as we are."

CFB Acquires Central States Bus Sales, Inc. (Fenton, MO)

St. Louis, Missouri (March 2010) – Capital For Business, Inc. (CFB) announced today that it recently completed the acquisition of Fenton, Missouri-based Central States Bus Sales, Inc. (Central States).

Central States is a distributor of buses and related equipment in Missouri, Illinois, Tennessee, Kentucky, and Arkansas. Central States is an exclusive Blue Bird® distributor of new buses to school districts throughout its territory as well as transit and shuttle buses to municipalities and other organizations. Additionally, Central States sells vans and specialty vehicles to organizations such as elderly care facilities, disabled transport services, and other organizations.

CFB lead an investor group, in conjunction with Central States management, to consummate the acquisition. In addition to CFB, the investor group included Diamond State Ventures, Little Rock, Arkansas, MidStates Capital, Overland Park, Kansas, Kansas Venture Capital, Inc., Overland Park, Kansas, and L&C Private Equities, Cedar Rapids, Iowa. Jeff Reitz, Central States' President, will continue to manage the company.

Jeff Reitz commented "With this transaction, Central States will continue to sell buses and service our customers at the highest level. We are excited to have such an experienced and deep investor group as partners we look forward to utilizing their resources and expertise going forward."

CFB Acquires Custom Marketing Co., LLC (West Fargo, ND)

St. Louis, Missouri (March 2010) - Capital For Business, Inc. ("CFB") announced today that it recently completed the acquisition of West Fargo, North Dakota-based Custom Marketing Co., Inc. (CMC).

Founded in 1986, CMC has become a leader in the grain storage, drying, and handling equipment business for the on-farm grain storage market. The Company offers a multitude of products including storage bins, crop drying and conditioning equipment, and all other accessories. CMC is known for its unique drying system, the Pressure Cure® Drying System, which allows farmers to harvest their crops earlier, at higher moistures and to dry any cereal crop right in the storage bins without the need for petroleum based, heating systems.

CFB lead an investor group, in conjunction with the Company's management, to make the acquisition. In addition to CFB, the investor group included Diamond State Ventures, Little Rock, Arkansas, and MidStates Capital, Overland Park, Kansas. Terry Wastweet, the Chief Executive Officer, and James Iverson, the President, will continue to run CMC.

Steve Broun, managing partner, CFB, commented "We are pleased to add CMC to our family of portfolio companies and we look forward to working with their management team as they continue to grow the business."

CFB Acquires SoTel Systems LLC (Maryland Heights, MO)

St. Louis, Missouri (July 2008) - Capital For Business, Inc. ("CFB") announced today that it recently completed the acquisition of Maryland Heights, Missouri based SoTel Systems, LLC ("SoTel").

SoTel specializes in the wholesale distribution of new and refurbished telephone, data services, and voice over internet protocol communications equipment. The company stocks numerous types of products including telephones, headsets, video conferencing equipment, digital transfer equipment, switches, and VOIP equipment from major telecommunication equipment manufacturers such as Aastra, Adtran, Avaya, Cisco, Siemens, and Nortel. Established in 2006 through the merger of Tele Systems Inventory Management, Inc. and South Supply, LLC, SoTel has more than 600 clients that include end users, telephone repair and service providers, and equipment resellers. The company has warehouse and production facilities in both St. Louis, Missouri and Lancaster, South Carolina.

The acquisition included the company's management. James Goebel, President and CEO of SoTel commented, "With this transaction, SoTel will be able to continue to make great strides towards its expansion and coverage capabilities. We are very enthused about our tremendous opportunities for growth and the addition of CFB as our partner.

CFB Acquires Kieffer & Co., Inc. (SHEBOYGAN, WI)

St. Louis, Missouri (May 2008) - Capital For Business, Inc. ("CFB") announced today that it recently completed the management sponsored acquisition of Sheyboygan, Wisconsin based illuminated sign manufacturer Kieffer & Co., Inc. ("Kieffer").

Established in 1959, Kieffer designs, manufactures, installs, and services high quality electric sign and display systems primarily to satisfy on-premise signage programs for large retailers, hotel chains, banks, and industrial companies. The Company offers a spectrum of cabinet signs, letter signs, awnings, and related products, some of which represent proprietary designs.

The acquisition included Company's management, in conjunction with the private equity firms: CFB, St. Louis, Missouri; Bush O'Donnell Capital Partners, LLC, St. Louis, Missouri, and; Northstar Capital, LLC, Minneapolis. Minnesota. Matthew Mele, President of Kieffer commented, "The Kieffer management team couldn't be more excited about this transaction. The addition of our investor group to the mix provides us unlimited opportunities to expand and grow our business in the coming years." Stephen Kieffer, the selling majority shareholder and second generation owner of the Kieffer business will continue to serve in a transaction advisory role to the Kieffer business. Mr. Kieffer will also continue to be active in the International Sign Association, an Alexandria, Virginia based group dedicated to supporting, improving, and promoting the on-premise sign industry.

CFB Acquires Preston-Eastin, Inc. (TULSA, OK)

St. Louis, Missouri (May 2008) - Capital For Business, Inc. ("CFB") announced today that it recently completed the management sponsored acquisition of Tulsa, Oklahoma based Preston-Eastin, Inc. ("Preston-Eastin").

Founded in 1972, Preston-Eastin designs and manufactures a complete line of manual, electric, and robotic welding positioners and manipulators used in the welding industry. Customers of the company range from small welding shops that use standard manual welding equipment to large industrial manufacturing operations that use sophisticated robotic welding equipment. Michael Perry, President of Preston-Eastin commented, "Since 1972 we have built a solid, profitable business with a defined niche in the welding industry. The combination of our business with the support of the investor group provides us the catalyst and opportunity to build a much stronger business with solid long-term fundamentals."  The acquisition of Preston-Eastin included the company's management, in conjunction with the private equity firms: CFB, St. Louis, Missouri; InvestAmerica, Cedar Rapids, Iowa; and The Mendota Group, Madison, Wisconsin.

CFB Recapitalizes Wayne Printing & Packaging, LLC (HIGH POINT, NC)

St. Louis, Missouri (May 2008) - Capital For Business, Inc. ("CFB") announced today that it recently completed the recapitalization of High Point, North Carolina based Wayne Trademark Printing & Packaging, LLC ("Wayne Trademark").

Established in 1933, Wayne Trademark is a leading specialty packaging printer with flexographic, lithographic, and digital printing capabilities.  The Company provides a wide range of products and services, and specializes in providing products into the domestic and international textile and textile services industry. Wayne Trademark possesses a wide array of patented and innovative production capabilities, and is a high-quality manufacturer of brand identity labels, primarily pressure sensitive labels. Additional markets the company serves include: food, automotive after-market, chemical, oil, gas, retail, manufacturing, distribution, and information processing industries.

The recapitalization included Company's management, in conjunction with the private equity firms: CFB, St. Louis, Missouri; Trinity Advisory Group, LP, Southlake, Texas; MidStates Capital, Overland Park, Kansas; and Diamond States Ventures, Little Rock, Arkansas. Gary Burrow, President of Wayne Trademark commented, "With this transaction, Wayne will be able to continue to make great strides towards its expansion and coverage capabilities. I see tremendous opportunities in the marketplace at this time – perhaps the best opportunities for growth that I have seen in my career. I realized that the time was now to push the Company forward. We decided to work together to take advantage of the current market conditions, and capitalize on the opportunity to strengthen existing customer relationships as well generate new ones."

 
© Capital For Business 2008.